Venture Capital, Private Equity, and the Financing of Entrepreneurship

Venture Capital, Private Equity, and the Financing of Entrepreneurship stems from a realization that private equity overall - defined in this volume as venture capital and buyouts but excluding hedge funds - has become a vastly more sizable and influential part of the global economic landscape over the past two decades.

The text explores the world of active investing and showcases ways of doing business in a clear and concise manner. With more than 60 years of combined experience as practitioners in and/or academic investigators of private equity, Lerner, Leamon, and Hardymon explain how the fascinating world of private equity works, from start to finish, how it creates value, and where it may destroy value.

• It provides a comprehensive explanation of buyouts and
venture capital -the industry that gave you Facebook, Google,
Apple, Federal Express, and Skype.

• It describes the incentives and motivations behind the
various actors - groups that invest in funds, those that invest in
companies, and the CEOs and entrepreneurs who found and run the
companies.

• Written by authors with a combination of more than 60
years of industry experience as academics and practitioners, it is
suitable for any individuals seeking a broader understanding of the
basics of this fascinating and complex industry.